Former Edmond Man to Serve Additional 15 Months in Prison for Money Laundering in Scheme to Defraud Cycling Coach
| U.S. Attorney’s Office February 27, 2012 |
OKLAHOMA CITY—Last week, MARK S. TRIMBLE, 46, formerly of Edmond, Oklahoma, was sentenced to serve 15 additional months in prison for money laundering in an investment scheme to defraud his cycling coach, announced Sanford C. Coats, United States Attorney for the Western District of Oklahoma.
Trimble was a former investment manager who owned and operated Phidippides Capital Management, LLC (“Phidippides”), an Oklahoma limited liability company with offices in Edmond and Oklahoma City. He has had several prior legal proceedings which bear on the current case:
- CFTC Civil Case = Trimble and Phidippides were sued in a civil action brought by the Commodity Futures Trading Commission in an action styled Commodity Futures Trading Commission v. Mark S. Trimble, et al., Case No. CIV-09-154-D. In that case, the court barred Trimble from engaging in commodity trading activity on March 6, 2009.
- “Trimble I” Criminal Case = On March 11, 2010, Trimble was criminally charged with money laundering in Case No. CR-10-092-D arising from financial investment scheme in 2007 where he diverted investor funds to his own account. On December 21, 2010, Trimble pled guilty in Trimble I and was sentenced to serve 120 months in federal prison and pay $9,045,451.23 in restitution to investors.
After Trimble had already been barred by the court from engaging in commodity trading in the CFTC Civil Case and while charges in the Trimble I Criminal Case were pending against him, Trimble engaged in a completely new and separate scheme.
- “Trimble II” Criminal Case = From September of 2009 through January of 2011, Trimble obtained money from his cycling coach to trade on the commodities market on behalf of the coach, but instead converted the money to his own use. On April 20, 2011, he was again indicted in case No. CR-11-132-F and charged with money laundering in the scheme to defraud his cycling coach. On July 12, 2011, Trimble pled guilty to this new scheme.
At the sentencing hearing last week in Trimble II, Judge Friot ordered that Trimble serve 15 months in prison to begin after the completion of the 120 month prison sentence he is currently serving on Trimble I. In addition, Trimble was ordered to pay $41,000 in restitution to the victims in Trimble II which is in addition to the $9,045,451.23 in restitution he was ordered to pay in Trimble I.
This case is the result of an investigation conducted by the United States Secret Service, the Federal Bureau of Investigation, and the Internal Revenue Service Criminal Investigations Division. The case was prosecuted by Assistant U.S. Attorney Susan Dickerson Cox.